Frequency Electronics Gross profit (Q1, 2019)4.3 M

Frequency Electronics Gross profit margin (Q1, 2019), %38.8%

Frequency Electronics Net income (Q1, 2019)31 K

Frequency Electronics EBIT (Q1, 2019)85 K

Frequency Electronics Cash, 31-Jul-20182.6 M

Frequency Electronics revenue was $39.41 m in FY, 2018 which is a 21.7% year over year decrease from the previous period.

Frequency Electronics revenue breakdown by business segment: 36.2% from FEI-Zyfer and 63.8% from FEI-NY

USD | FY, 2014 | FY, 2015 | FY, 2016 | FY, 2017 | FY, 2018 |
---|---|---|---|---|---|

## Revenue | 71.6m | 76.6m | 55.4m | 50.4m | 39.4m |

| 7% | (28%) | (9%) | (22%) | |

## Cost of goods sold | 46.8m | 53.0m | 36.1m | 39.1m | 34.2m |

## Gross profit | 24.8m | 23.5m | 19.3m | 11.2m | 5.2m |

| 35% | 31% | 35% | 22% | 13% |

## R&D expense | 5.8m | 5.7m | 5.4m | 6.9m | 7.0m |

## General and administrative expense | 14.1m | 14.2m | 11.4m | 11.9m | 10.6m |

## Operating expense total | 19.9m | 19.9m | 16.8m | 18.8m | 17.6m |

## EBIT | 4.9m | 3.7m | 2.5m | (7.5m) | (12.4m) |

| 7% | 5% | 4% | (15%) | (31%) |

## Interest expense | 156.0k | 139.0k | 131.0k | 150.0k | 79.0k |

## Investment income | 1.0m | 490.0k | 549.0k | 1.3m | |

## Pre tax profit | 6.3m | 4.5m | 3.3m | (7.0m) | (11.3m) |

## Income tax expense | 2.3m | 1.7m | 1.1m | (2.1m) | 11.2m |

## Net Income | 4.0m | 2.8m | 1.0m | (4.8m) | (23.8m) |

- Source: SEC Filings

- Source: SEC Filings

USD | FY, 2014 | FY, 2015 | FY, 2016 | FY, 2017 | FY, 2018 |
---|---|---|---|---|---|

## Cash | 7.7m | 7.2m | 5.8m | 2.2m | 7.9m |

## Accounts Receivable | 9.7m | 7.2m | 11.0m | 4.3m | |

## Prepaid Expenses | 1.3m | 1.1m | 1.1m | 1.1m | |

## Inventories | 41.2m | 38.2m | 36.3m | 29.1m | 26.2m |

## Current Assets | 87.9m | 83.6m | 85.9m | 69.9m | 52.1m |

## PP&E | 11.2m | 12.7m | 12.3m | 14.8m | 14.1m |

## Goodwill | 617.0k | 617.0k | 617.0k | 617.0k | |

## Total Assets | 119.5m | 117.8m | 122.2m | 113.3m | 83.6m |

## Accounts Payable | 2.3m | 1.7m | 3.2m | 2.4m | 1.8m |

## Current Liabilities | 9.7m | 8.4m | 10.3m | 8.1m | 5.3m |

## Long-term debt | 6.0m | 6.0m | |||

## Total Debt | 6.0m | 6.0m | |||

## Total Liabilities | 31.1m | 26.0m | 28.8m | 24.0m | 20.3m |

## Common Stock | 9.2m | 9.2m | 9.2m | 9.2m | |

## Additional Paid-in Capital | 53.2m | 54.4m | 55.6m | 55.8m | 56.4m |

## Retained Earnings | 24.7m | 27.5m | 28.5m | 23.7m | (65.0k) |

## Total Equity | 88.3m | 91.8m | 93.4m | 89.3m | 63.3m |

## Debt to Equity Ratio | 0.1 x | 0.1 x | |||

## Debt to Assets Ratio | 0.1 x | 0 x | |||

## Financial Leverage | 1.4 x | 1.3 x | 1.3 x | 1.3 x | 1.3 x |

USD | Q2, 2014 | Q1, 2015 | Q2, 2015 | Q3, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 | Q2, 2017 | Q3, 2017 | Q1, 2018 | Q2, 2018 | Q3, 2018 | Q1, 2019 |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|

## Cash | 5.1m | 4.5m | 6.4m | 6.1m | 5.9m | 4.1m | 7.1m | 4.0m | 4.1m | 3.1m | 10.9m | 11.0m | 7.0m | 2.6m |

## Accounts Receivable | 14.7m | 12.9m | 12.2m | 10.0m | 12.5m | 9.2m | 9.5m | 9.2m | 7.6m | 8.1m | 7.1m | 7.8m | 6.5m | |

## Prepaid Expenses | 1.2m | 1.3m | 2.1m | 1.2m | 1.3m | 1.1m | 1.2m | 1.2m | 1.2m | 890.0k | 1.2m | 1.1m | 1.2m | |

## Inventories | 40.7m | 42.8m | 41.3m | 41.0m | 39.1m | 38.8m | 40.7m | 42.6m | 41.8m | 41.2m | 30.5m | 31.2m | 25.9m | 26.3m |

## Current Assets | 84.0m | 92.1m | 90.2m | 87.3m | 84.4m | 83.9m | 85.1m | 84.7m | 81.8m | 75.7m | 70.5m | 69.5m | 62.8m | 52.1m |

## PP&E | 12.0m | 13.2m | 13.1m | 12.7m | 12.8m | 12.4m | 13.4m | 14.1m | 14.8m | 14.6m | 14.3m | 13.9m | 14.0m | |

## Goodwill | 667.0k | 644.0k | 621.0k | 617.0k | 617.0k | 617.0k | 617.0k | 617.0k | 614.0k | 617.0k | 617.0k | 617.0k | 617.0k | |

## Total Assets | 114.0m | 124.5m | 124.0m | 120.8m | 119.1m | 118.8m | 119.8m | 120.5m | 118.3m | 112.8m | 114.1m | 112.7m | 104.3m | 83.5m |

## Accounts Payable | 1.4m | 3.3m | 3.8m | 3.5m | 883.0k | 1.2m | 2.4m | 4.0m | 2.4m | 2.5m | 2.7m | 2.7m | 2.9m | 1.3m |

## Short-term debt | 280.0k | |||||||||||||

## Current Liabilities | 6.8m | 11.0m | 10.3m | 9.1m | 7.8m | 7.1m | 8.6m | 9.1m | 6.7m | 6.4m | 8.1m | 7.6m | 8.9m | 4.4m |

## Long-term debt | 12.4m | 11.4m | 8.4m | 6.0m | 6.0m | 6.0m | 6.0m | 6.0m | ||||||

## Total Debt | 12.4m | 11.4m | 8.4m | 6.0m | 6.0m | 6.0m | 6.0m | 6.3m | ||||||

## Total Liabilities | 28.2m | 34.8m | 33.1m | 29.1m | 25.6m | 25.0m | 26.6m | 27.9m | 25.5m | 19.7m | 24.2m | 23.8m | 25.7m | 19.6m |

## Common Stock | 9.2m | 9.2m | 9.2m | 9.2m | 9.2m | 9.2m | 9.2m | 9.2m | 9.2m | 9.2m | 9.2m | 9.2m | 9.2m | |

## Additional Paid-in Capital | 52.6m | 53.5m | 53.9m | 54.2m | 54.7m | 55.0m | 55.2m | 55.8m | 56.0m | 56.2m | 56.0m | 56.1m | 56.3m | 56.6m |

## Retained Earnings | 22.7m | 25.4m | 26.7m | 27.6m | 28.4m | 28.4m | 28.6m | 27.8m | 26.8m | 27.1m | 24.3m | 22.8m | 12.4m | 449.0k |

## Total Equity | 85.9m | 89.8m | 90.9m | 91.7m | 93.5m | 93.8m | 93.2m | 92.7m | 92.7m | 93.1m | 89.9m | 88.9m | 78.7m | 64.0m |

## Debt to Equity Ratio | 0.1 x | 0.1 x | 0.1 x | 0.1 x | 0.1 x | 0.1 x | 0.1 x | 0.1 x | ||||||

## Debt to Assets Ratio | 0.1 x | 0.1 x | 0.1 x | 0.1 x | 0.1 x | 0.1 x | 0 x | 0.1 x | ||||||

## Financial Leverage | 1.3 x | 1.4 x | 1.4 x | 1.3 x | 1.3 x | 1.3 x | 1.3 x | 1.3 x | 1.3 x | 1.2 x | 1.3 x | 1.3 x | 1.3 x | 1.3 x |

USD | FY, 2014 | FY, 2015 | FY, 2016 | FY, 2017 | FY, 2018 |
---|---|---|---|---|---|

## Net Income | 4.0m | 2.8m | 1.0m | (4.8m) | (23.8m) |

## Depreciation and Amortization | 2.5m | 2.9m | 2.5m | 2.6m | 2.5m |

## Accounts Receivable | (1.6m) | (3.2m) | (911.0k) | (3.6m) | 5.9m |

## Inventories | (3.1m) | 1.3m | (3.7m) | 2.2m | (2.1m) |

## Accounts Payable | 25.0k | 1.2m | (746.0k) | 379.0k | |

## Cash From Operating Activities | 3.6m | 1.9m | 2.9m | 3.9m | 4.5m |

## Purchases of PP&E | (4.2m) | (3.3m) | (5.2m) | (1.4m) | |

## Cash From Investing Activities | (3.6m) | 1.2m | (3.5m) | (1.5m) | 341.0k |

## Short-term Borrowings | (4.1m) | (6.0m) | |||

## Cash From Financing Activities | 4.3m | (3.9m) | 141.0k | (6.7m) | |

## Net Change in Cash | (476.0k) | (1.1m) | (3.3m) | 5.1m | |

## Interest Paid | 153.0k | 140.0k | 128.0k | 146.0k | 79.0k |

## Income Taxes Paid | 1.7m | 1.9m | 1.3m | 335.0k | 325.0k |

## Free Cash Flow | (1.8m) |

USD | Q2, 2014 | Q1, 2015 | Q2, 2015 | Q3, 2015 | Q1, 2016 | Q2, 2016 | Q3, 2016 | Q1, 2017 | Q2, 2017 | Q3, 2017 | Q1, 2018 | Q2, 2018 | Q3, 2018 | Q1, 2019 |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|

## Net Income | 2.1m | 719.0k | 1.3m | 878.0k | 891.0k | 822.0k | 1.1m | (706.0k) | (1.7m) | (1.4m) | 614.0k | (867.0k) | (11.3m) | 31.0k |

## Cash From Operating Activities | (2.5m) | (5.6m) | (2.5m) | (791.0k) | (1.8m) | (2.9m) | 2.0m | (571.0k) | (2.5m) | 2.6m | 3.2m | 2.8m | 4.0m | (3.6m) |

## Purchases of PP&E | (1.2m) | (3.1m) | (3.6m) | (606.0k) | (1.3m) | 1.6m | (1.1m) | (2.4m) | (3.8m) | (450.0k) | (883.0k) | (1.0m) | (483.0k) | |

## Cash From Investing Activities | (1.1m) | 59.0k | (408.0k) | 608.0k | (65.0k) | (767.0k) | (1.8m) | (1.1m) | (1.4m) | 53.0k | 5.8m | 5.6m | 440.0k | (1.5m) |

## Short-term Borrowings | (6.3m) | |||||||||||||

## Cash From Financing Activities | 4.2m | 2.3m | 1.3m | (1.7m) | 8.0k | 9.0k | 8.0k | 1.0k | 305.0k | (6.0m) | 1.0k | 1.0k | 1.0k | |

## Net Change in Cash | (3.3m) | (1.6m) | (1.8m) | (1.3m) | (3.1m) | (143.0k) | (2.1m) | (2.0m) | (3.0m) | 9.3m | 9.1m | 5.2m | (5.2m) | |

## Interest Paid | 87.0k | 34.0k | 82.0k | 114.0k | 24.0k | 56.0k | 93.0k | 38.0k | 76.0k | 115.0k | 17.0k | 41.0k | 61.0k | 18.0k |

## Income Taxes Paid | 1.3m | 41.0k | 490.0k | 1.7m | 230.0k | 230.0k | 1.2m | 70.0k | 335.0k | 335.0k | 325.0k | 325.0k |

USD | Y, 2018 |
---|---|

## Financial Leverage | 1.3 x |

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Frequency Electronics's Backlog was reported to be $30m in FY, 2018.

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